This is the fourth post in a seven-part series on anticipating and handling growth in the second half of 2011. For the whole series, click here.
Is your staffing business ready to meet the needs of businesses experiencing growing demand? Being able to handle growth isn’t an accident; it’s the result of a step-by-step plan that puts your business in the best possible position to deal with any change in the economy.
Step 2: Be Prepared for New Developments
Recent changes brought about through legislation and economic circumstances can affect staffing firms more than other businesses. Be sure you know what’s coming in addition to growth. Yesterday, we talked about FUTA and all the uncertainty surrounding it. Today, we’re examining one of the biggest issues for any business: health insurance.
As national health insurance policy is debated and adjusted, many people grow more anxious concerning their coverage. Employers are unsure what they’ll be required to provide, while employees are unsure what options they’ll have. And everyone worries about the cost. Already courts in Florida and Virginia have ruled the health care law unconstitutional. Its journey through the appellate courts may well culminate in a debate before the U.S. Supreme Court.
By 2014, health insurance across the nation will likely have changed significantly, and costs are sure to have risen. Plan gradual increases into your health coverage budget for your employees and remain aware of the legal fight underway across the country.
The future of the “mini-med” plans that benefit your candidates is even murkier. Based on the political future, they might be eliminated, modified or left relatively alone. Presently, current law will eliminate the plans by 2014. In the meantime, continue to offer your candidates coverage that makes sense for them and stay in touch with your provider regarding legal changes.
We recommend the coverage offered by Essential StaffCARE for temporary employees. As one of our Integrated Partners, Essential StaffCARE has been responsive and helpful, with an understanding of the unique concerns of the staffing industry. We fully trust them to report any news or changes to health care reform quickly and thoroughly.
In the coming weeks, we’ll talk about how to market your staffing firm without breaking the bank. If you have any thoughts or questions, please don’t hesitate to leave them in the comments!